New Home Buying Demand Remains High Despite Interest Rate Challenges: Analyst Opines On LGI Homes' Performance
Portfolio Pulse from Shivani Kumaresan
JMP Securities analyst Aaron Hecht has reiterated a Market Outperform rating on LGI Homes Inc (LGIH) and raised the price target from $130 to $150. This follows LGIH's announcement of its June home closings, which exceeded expectations at 1,854 homes. The analyst also increased the diluted EPS estimates for 2023 and 2024. LGIH shares are currently trading higher by 3.6% at $127.92.
July 10, 2023 | 6:27 pm
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POSITIVE IMPACT
LGI Homes Inc's stock price is likely to increase in the short term due to the positive analyst rating and raised price target.
The analyst's positive rating and increased price target indicate a strong performance expectation for LGIH. This, coupled with the company's better-than-expected home closings, is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100